Singapore's Retail Sales Growth Accelerates to 4% in June

MT Newswires08-05

Singapore's total retail sales rose 4% year-over-year to SG$4.2 billion in June, following a 2.9% increase in the prior month, according to data from the Statistics Department released Wednesday.

The reading missed the 4.8% growth forecast tracked by Trading Economics.

Excluding motor vehicles, parts and accessories, retail sales rose 4.1% year over year, compared with a 3.6% increase in the preceding month.

On a seasonally adjusted month-on-month basis, retail sales increased 1%, reversing the 2.2% decline in May and beating the 0.4% decline forecast tracked by Trading Economics.

Excluding motor vehicles, parts and accessories, retail sales edged up 0.2% from the previous month.

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